Find out more about Reprinting P45 Papaya Global ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This offers us with a secure and dependable method of paying to our 10,000 employees worldwide.}
The innovative international payroll management app enhances my payroll process, saving me a significant amount of time each month. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
The Employee Portal provides workers with the capability to gain access to and view crucial documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global helps companies provide competitive benefits bundles to international employees no matter the variety of staff members in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source local benefits providers in every country, produce regional accounts and have a minimum number of employees.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total employment costs distributed per location, total employment costs per cycle and much more.
Worldwide, I have actually shown leadership and strategic proficiency in directing massive populations of over 100,000 workers across 170 countries. Presently, I are accountable for managing payroll techniques, as discussed by Mark. My role includes managing and establishing external partnerships, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of various functions on the service provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very very dreary and I wish I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business maintain different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially useful for worldwide companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of reasons most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include further intricacy the worldwide Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing worldwide in the conventional payroll model there's typically a frustrating number of different systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in big quantities and or really extremely fundamental there's no real consistency structure we're residing in an era of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of a photo they see an absence of presence also encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of global businesses have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry mistakes improperly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they rely on the required several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're paying to workers or otherwise that's an excellent question I constantly throw this back and say what is it what does not need to be included ideal and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to kind of move forward with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely essential that payroll and finance groups work closer together than ever um I'm constantly surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on wellness and the settlement landscape is becoming significantly complex. Companies are continuously presenting brand-new advantages and payment options, which contributes to the overall intricacy. Big corporations typically divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technically sophisticated age, there's no justification for maintaining troublesome procedures. Payroll, the business's most significant cost, must be processed properly and on time. Even minor hold-ups can adversely affect staff members' well-being and have far-reaching repercussions. Therefore, it's vital to prioritize precise and prompt payments.
The payroll group might not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals only observe when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. For that reason, it is important to ensure that jobs like Wi-Fi Global and other vital matters are done correctly. Using the first Global Payments very first payroll payment option is a great initial step towards supplying an extensive payroll option for staff members worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and checking account essential for global payroll are crucial factors in accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyhow we understand how how important a function it is and that's why we do it that's why we get on with it and this is why we're talking today about making it as easy as possible for everyone that's involved in those procedures and likewise so envision sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and type of shot to return to everyone so proceeding appearance why do companies pick to main separate savings account there are businesses out there doing precisely this for particular countries and I have actually worked in a service or lots of services doing exactly that I can state it doesn't constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not developing extra work for any person where we do not have to and anyone that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the standard I believe individuals have actually got so utilized to we require a brand-new checking account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a variety I believe this is a procedure that requires looking at it needs changing but eventually people are very stuck to what they're familiar
with best um change is a tough thing all of us don't like modification um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having preserving numerous checking account but there's a big quantity of intricacy opts for setting up a savings account keeping it ensuring it can send out International transfers ensuring it's established with the right user accesses for individual people so the intricacy is big however I think the honest response is change um people have not had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change however we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century approximately there is a lot to keep an eye on and this technique does pose several challenges um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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